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Chrysler files for IPO

Chrysler has had a lot of owners over the past few years alone, from Daimler to Cerberus to Fiat and the federal government. But it could be poised to gain some more before long. Like, a lot more.
The automaker has just announced that it has filed with the US Securities and Exchange Commission to issue an Initial Public Offering of common stocks. Chrysler hasn't revealed how many shares will be offered and at what price, however the shares in question will not come out of Fiat's approximate 60% majority shareholding but instead out of the 40% minority stock held by the UAW's VEBA retiree healthcare trust. Reports suggest that the IPO, which is being handled by JP Morgan, could encompass approximately 16% of Chrysler stock, initially valued at approximately $100 million.
Lest you think this is all part of Sergio Marchionne's grand plan to consolidate Chrysler and Fiat, the two auto groups over which he presides, think again. The filing, which still needs to be approved by the SEC, comes at the insistence of the UAW. Negotiations between Marchionne's management team and the union over Fiat's acquisition of the VEBA shares have stalled. If they manage to come to an agreement, however, the IPO would likely be taken off the table. So don't go calling your broker just yet, but you can analyze the official announcement below.

Fiat GIF-based ads make our heads spin

Take a good, long look at the image above. Don't worry, it's completely real; you're not hallucinating. Would you believe that's an actual screencap from an actual ad commissioned by Fiat that's airing on actual television? Believe it.
The commercials started as a series of animated GIFs from The Richards Group for Fiat's Tumblr page, according to Adweek. Chrysler's Chief Marketing Officer reportedly liked them enough that he had them cut into ads for TV. The result is a combination of Internet meme heaven that includes the above horse mask and "Deal with it," animation, experimental filmmaking, cats, a person in a bunny suit twerking on a Fiat 500 and more general bizarreness.
Whatever your opinion on them, you have to admit that the advertising is certainly attention grabbing. Imagine looking up at the TV form your tablet to catch a glimpse of this weirdness. If you don't like them, Fiat is even giving people the chance to do a better job. Its Tumblr is open to submissions of new GIFs, which could lead to some very inappropriate and potentially hilarious results given the way that the Internet often works.

Chrysler recalls 112k family-haulers over airbag controllers

The Basics: Chrysler has issued a recall for an array of minivans and crossovers manufactured in 2007 and 2008. The models affected include the 2009 Dodge Journey, 2008-09 Dodge Grand Caravan, and 2008-09 Chrysler Town and Country. The 2009 Volkswagen Routan, which was manufactured by Chrysler, is also being recalled by FCA. The automaker estimates that 112,001 units in the United States are affected, all told. The Problem: Corrosion in the air bag control unit could prevent the air bags from deploying in the event of a crash, or alternatively deploy prematurely. Chrysler points out that "none of the affected vehicles are equipped with ammonium-nitrate inflators" like those fitted by Takata. Injuries/Deaths: The manufacturer reports seven minor injuries (but no accidents) potentially related to this issue. The fix: Chrysler will replace the air bag control unit, though it has not yet outlined a timeframe for doing so. If you own one: Look for a recall notice in the mail and then schedule service with your local dealership. If you don't receive one, you can contact Chrysler customer service at 1-800-853-1403 and reference recall number S07. Related Video: RECALL Subject : Air Bag Control Unit Power Supply Corrosion Report Receipt Date: JAN 29, 2016 NHTSA Campaign Number: 16V047000 Component(s): AIR BAGS Potential Number of Units Affected: 112,001 Manufacturer: Chrysler (FCA US LLC) SUMMARY: FCA US LLC (Chrysler) is recalling certain model year 2009 Dodge Journey vehicles manufactured December 31, 2007, to August 31, 2008, 2008-2009 Dodge Grand Caravan and Chrysler Town and Country vehicles manufactured June 18, 2007, to August 31, 2008, and 2009 Volkswagen Routan vehicles manufactured August 11, 2008, to August 31, 2008. In the affected vehicles, the air bag control units may corrode and fail. CONSEQUENCE: If the air bag control unit fails, the air bags may not deploy in the event of a crash, increasing the risk of occupant injury. Additionally, the air bags may inadvertently deploy, increasing the risk of a crash. REMEDY: Chrysler will notify owners, and dealers will replace the air bag control unit, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is S07. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.